Allens advises Villa World on $80m capital management initiatives

Allens has advised Villa World Limited on three capital management initiatives to support Villa World's growth objectives, diversify its debt capital structure and provide additional financial capacity to replenish and increase land stocks through strategic purchases in optimal growth corridors.

The initiatives include a $50 million simple corporate bond offer, a fully underwritten $20 million equity placement and a $10 million share purchase plan.

The bond offer, made under the simple corporate bond regime, is only the third such transaction to take place in Australia since the laws were introduced in 2014.

'We were delighted to support Villa World to achieve its funding diversification objectives through the issuance of a simple corporate bond,' said joint lead Partner James Darcy.

'The transaction demonstrates the availability of the simple corporate bond structure for listed companies on a growth and funding diversification trajectory.'

'We look forward to seeing Villa World realise the benefits of the equity and debt raisings and move on to the next successful phase of their business,' said joint lead Partner Julian Donnan.

Ends